Iranian steel mill Mobarakeh Steel Company is reported to have floated an export tender for 30,000-40,000 mt of steel slab. The material is destined to be shipped at the end of July. The deadline for bids is Friday, May 27.
As SteelOrbis reported earlier, with the downtrend in the global steel market having continued to gain momentum, the Iranian authorities have revised the export duty on slab from 17 percent to five percent in accordance with the provisions of the announcement made by the deputy minister at the Iranian Ministry of Industries and Mines on April 11. The previous ex-Iran slab tender was closed at $640/mt FOB in the first half of May by another Iranian mill, Khouzestan Steel Company (KSC). Since then, slab prices have weakened considerably in line with the global trend. The availability of lower-priced offers from Russia is putting additional negative pressure on the positions of Iranian steel mills. Accordingly, the latest transactions for ex-Russia slab to China, which has been the main market for Iranian exporters, have been done at $600-605/mt CFR.